Principal Securities Inc. Increases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Principal Securities Inc. grew its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 254.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,384 shares of the company's stock after acquiring an additional 7,451 shares during the quarter. Principal Securities Inc.'s holdings in Principal Financial Group were worth $804,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PFG. Tompkins Financial Corp acquired a new position in Principal Financial Group during the first quarter valued at approximately $55,000. SG Americas Securities LLC acquired a new position in Principal Financial Group during the first quarter valued at approximately $943,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Principal Financial Group by 2.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock valued at $44,433,000 after purchasing an additional 13,483 shares during the last quarter. Quantbot Technologies LP boosted its position in Principal Financial Group by 2,064.3% during the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. acquired a new position in Principal Financial Group during the first quarter valued at approximately $281,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 1.2%

PFG traded down $0.97 on Friday, hitting $80.63. The company had a trading volume of 328,003 shares, compared to its average volume of 1,317,768. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The stock has a fifty day simple moving average of $78.41 and a 200-day simple moving average of $79.71. The firm has a market capitalization of $18.08 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.76 and a beta of 0.99.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the company posted $1.65 EPS. As a group, equities analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is 65.10%.

Analysts Set New Price Targets

Several research firms have issued reports on PFG. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a research note on Wednesday. Piper Sandler increased their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Barclays increased their target price on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, UBS Group lowered their target price on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.75.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.